Member Info for Learningtoinvest

Indeed.... in fact 1.5p is currently a dream at this moment in time

This site is about discussion of 88 both positive and negative. As we have moved from 2.8 to 1.27 in a very short period of time it's natural that some people will currently have a negative view of 88. Telling people to crawl under rocks and sell up and go home is neither helpful or decent. For me this is the super high risk part of my portfolio with the potential to go all the way but it can also go bust that is the nature of a speculative 50/50 share. I'm also currently in BT with a 7% yield. I'm not going to get rich with it but potential losses are limited. 2% ISAs are still there for the feint hearted

Four Projects - you forgot to add how these projects are going to be funded,14 or 15 million Australian Dollars does not go far in the oil industry

MikeMike Ive been here for a while and I know there is massive potential and the science shows there are billions of barrels of oil here. There is a chance that we will make it big, Im here for the long term like many of you

I am just saying how I see things at this moment in time , After all I dont know about you, but personally I cant buy a new house and a flash car with 88 at 1.35p hopfully that comes later cashing in the golden ticket but thats not today

Bits I think the plummeting share price speaks volumes, clearly the opinion of Dismal is not limited to just me
2.8p to 1.35p is not the sort of share movement normally seen where people are happy with what they read.

Yukon - Piece of paper for acerage - How much money needed for project?
Red Dragon - Contract - Money needed for our part
Farm out - IW2 will have an impact on deal
IW2 - Share price plummeting on Dismal RNS after Dismal RNS
I am most concerned about our situation at the moment. If we dont get good news soon we will need money .
its fine and dandy for the wise here to talk about these projects which to be honest have fabulous potential but all need money to develop its fine rasing cash if we go to 10p because raising a few million at 10p will have no impact and minimal dilution but if we need to raise money at this share price I dread to think of the impact on 88

My average is 2.6 I'm not worried as I'm in long term

There has been a lot of talk of many strings to the bow. Personally I think thats what we need to focus on now, I believe there is somthing here, With Red Dragon, the Farm out and Yukon a lot of potential here. There are good opportunities for revenue development given the right circumstances. I believe DW has the potential for the development of different portfolios giving 88 the luxury of being able to drop a ball or two along the way. If IW2 does not come to fruition we now have these extra exciting options with real chances of big money. IMHO the loss of IW2 is not the end of the world or 88

Well people are not happy today

Indeed so if DW is not pleased im surprised to find people here that are. After all hes the captain of the ship hopefully not the Titanic

Well its the first time ive seen DW not pleased

Well DW was no longer pleased to announce the RN S today he just reported the RNS im l the only person that has picked up on this

Jiddy123 - This is a chat room and people are entitled to have their say . After all this is real and people are losing real money and are very concerned as to the future.

I think giving people words of encouragement is much better than telling people to go away and sell or threatening to use the filter button. We are all investors here and its much better to be in a Positive supportive environment than a negative hostile one

Doors 1111 by going back into the black do you mean moving up from 1.35 to 1.40 ?

As you say there is a lot of positive stuff for 88 but that is for the future at the moment its painful RNS followed by Painful RNS and DW is no longer pleased to provide us with an update.... He is now just "providing us with an update"

Have you noticed that before every RNS comes the words "We are pleased to announce the following update"
This Morning it was "provides the following update"

I dont know much about the oil industry but No longer being pleased speaks VOLUMES
After painfull reading, DW felt it neccesary to reiterate the following

"The Joint Venture remain confident that the reservoir quality and geomechanical properties of the
HRZ indicate that it has the requisite ingredients to attract a farm-in partner"

Then a couple of days ago the Red Emporer deal.

I get the impression 88 is now focusing on the other ventures and is afraid to say that IW2 is not going to be successful. I think its important to clarify our forward stratagy as soon as possible.

Many companies even at FTSE 100 level are forced to have a strategy rethink because they have taken on to many projects

Happyhols : Another string to our bow yes, its whos paying for the arrows that im concerned about

this will cost us $6.4M US out of $11m left in the bank. thats fine but we Have IW2, a farm out, yukon and regular expenses to pay out, how long will it be before we are farming out another couple of billion shares to keep this multi project enterprise afloat?

Research??? Its a brand new RNS with brand new information

Is this the farm out everyone is talking about? 25-30% possibility of success? We also have to cough up a few million Dollars? Where are the big oil company names?

I dont have much knowledge about the oil industry, all I know is that when I read RNS after RNS my heart sinks and I feel like being sick because that has been my gut feeling but Im here for the long term and reading the information here gives me a more positive perspective on the situation.

The point im making is if I can feel that way others can to, thus a sell off